The market for newly built homes in Cyprus generated almost €1.15 billion in sales during the first half of 2026, according to a new analysis by Landbank Analytics.
Between January and June, a total of 3,594 sales of off-plan apartments and houses were recorded nationwide, with a combined value of €1.149 billion.
The average transaction value stood at €319,618, while the median price reached €232,500, reflecting the impact of a limited number of high-value transactions on the overall market.
Apartments remain the market's main driver
Apartments continued to dominate sales activity, accounting for 2,977 transactions, or 82.8% of all new-home sales.
Their total value reached €810.6 million, with an average sale price of €272,274 and a median price of €215,000.
By contrast, 617 newly built houses were sold for a combined €338.1 million. The average value per house reached €548,049, while the median price stood at €365,000.
Although houses represented only 17.2% of transactions, they accounted for 29.4% of the market's total value.
Four in five homes sold for under €400,000
The data indicate that the bulk of demand remains concentrated in the middle segment of the market.
Of the 3,594 transactions recorded:
- 528 involved properties valued below €150,000
- 1,423 ranged between €150,000 and €250,000
- 1,031 ranged between €250,000 and €400,000
In total, 2,982 properties, or 83% of all transactions, were sold for less than €400,000.
Only 103 properties, representing 2.9% of sales, were valued at €1 million or more.
Nicosia leads in volume
Nicosia recorded the highest number of transactions, with 1,063 sales worth €232.9 million.
The median sale price was €185,000, reflecting the capital's strong reliance on domestic demand and mid-market housing.
Lakatsamia recorded the highest number of sales within the district, followed by Strovolos and Latsia.
Limassol tops value rankings
Limassol maintained its position as the most valuable residential market, recording 1,050 sales worth €435 million.
The district accounted for 37.9% of the total value of new-home sales nationwide, despite representing 29.2% of transactions.
The average transaction value reached €414,307, while the median price stood at €302,910.
Larnaca strengthens apartment market
Larnaca recorded 883 sales worth €187.6 million, with apartments accounting for 90% of all transactions.
The median price in the district was €190,000, placing it among Cyprus' more affordable new-home markets.
Most activity was concentrated in Aradippou, Larnaca municipality and Livadia.
Paphos leads in house prices
Paphos continued to stand out as the market for higher-value residential properties.
The district recorded 497 sales worth €258.2 million, with a median transaction value of €360,000, the highest among Cyprus' districts.
The median price of newly built houses reached €570,000, also the highest nationwide.
Famagusta records smaller but higher-value market
The free district of Famagusta registered 101 new-home sales worth €35 million.
The median sale price stood at €225,000, while new houses recorded a median value of €395,000.
Market of different speeds
Commenting on the findings, Landbank Group chief executive Andreas Christoforides said the figures highlight the differing characteristics of each district's housing market.
"Nicosia and Larnaca are driven primarily by affordable and mid-market apartments, Limassol dominates in terms of total transaction value, while Paphos maintains a strong position in high-end housing," he said.
Christoforides added that the fact 83% of all sales involved homes priced below €400,000 demonstrates that the core of the market continues to serve genuine housing and investment needs.
